Episode•October 18, 2022•21 min

How to Make Lasting Financial Changes Today | Ep. 150

Welcome back Money Talk With Tiff listeners! In this milestone 150th episode, Tiffany dives deep into the critical importance of making meaningful changes in our financial lives. Often, we find ourselves stuck in patterns that don't serve us, and Tiffany is here to break down how to recognize those patterns, why change is essential, and actionable steps to transform your financial journey. Every Tuesday, Tiffany answers one of your submitted questions. To submit a question for an upcoming episode, visit here: https://www.moneytalkwitht.com/asktiffany. Key Takeaways The Necessity of Change The definition of insanity is doing the same thing and expecting different results. Tiffany emphasizes how crucial it is to recognize and change self-sabotaging financial habits. Get Comfortable with Being Uncomfortable Growth happens outside of your comfort zone. Tiffany shares personal anecdotes and motivational insights to encourage listeners to embrace discomfort for the sake of progress. Tips for Financial Change Savings Challenge: Join the free savings challenge with Copper Vibrations. Save amounts ranging from $1 to $100 in a dedicated envelope or account. Track Your Money: Start tracking daily expenses to become more aware of spending habits. This awareness naturally leads to saving. Budgeting: Create and stick to a budget. It’s not about restriction; it's about finding financial freedom and clarity. Whether you call it a budget, money management tool, or cash flow statement, the goal is the same. Foolproof Your Finances Implement strategies to safeguard your savings, such as using online savings accounts that are harder to access or physically removing credit cards from easy reach. Mindset Matters Positive self-talk is essential. Believing that you can save, make more money, or achieve financial goals is half the battle won. Community Awareness Tiffany addresses the spending habits within communities and highlights the importance of collective awareness and responsibility for financial growth. Throughout this engaging episode, Tiffany calls listeners to action, encouraging them to take control of their financial destiny through intentional, consistent changes. She asserts the power of knowing oneself and leveraging that understanding to create a healthier financial future. Resources Mentioned Savings Challenge with Copper Vibrations Online savings accounts Budgeting tools and apps Connect with Tiffany Website: moneytalkwitht.com Social Media: @moneytalkwitht Don't Forget to Subscribe, Rate, and Review! Support this Podcast This podcast uses the following third-party services for analysis: Podcorn -...

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Key Takeaways

1
Change requires doing things differently
The definition of insanity is doing the same thing and expecting different results
Recognize self-sabotaging financial habits and challenge yourself to break patterns
Growth happens outside your comfort zone - embrace discomfort for progress
2
Start with awareness through tracking
Track daily expenses to see where money is actually going
Awareness naturally leads to saving - people immediately start saving when they track
The first step to solving any issue is having awareness that there is an issue
3
Budgeting is foundational regardless of what you call it
Call it a cash flow statement, money management tool, or money manifestation tool - the function matters
Budgeting gives freedom, not restriction - knowing your numbers empowers decisions
Without knowing how money flows, you'll stay on the hamster wheel of financial struggle
4
Foolproof your finances based on self-awareness
Use online savings accounts that take 2-3 days to access for emergency funds
Remove credit cards from wallet or saved payment methods if spending is an issue
Know yourself and build strategies to work against your spending triggers
5
Mindset and self-talk determine financial outcomes
If you tell yourself you can't save before starting, you won't succeed
Replace 'I can't' with 'I can' - positive self-talk is essential
This journey is mental - understanding your beliefs and values is key to lasting change

Intro

In this milestone 150th episode of Money Talk With Tiff, Tiffany addresses the critical importance of making meaningful financial changes and breaking self-sabotaging patterns that keep listeners stuck.
Tiffany is a money nerd, financial coach, and host of the Money Talk With Tiff podcast who helps listeners transform their financial journeys through awareness, budgeting, and intentional change.

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– The Necessity of Change

If you want things to be different, you have to do things differently. The definition of insanity is doing the same thing and expecting a different result.
– Tiffany

Tiffany emphasizes that recognizing self-sabotaging financial habits is the first step, and listeners must challenge themselves to get comfortable being uncomfortable because growth happens outside the comfort zone.

– Savings Challenge as First Step

For those struggling to save, Tiffany recommends starting the free savings challenge with Copper Vibrations. The premise is simple: take one amount ranging from $1 to $100, put it in an envelope or savings account, and don't touch it.

Anybody can take a dollar and put it in a savings account and not touch it. You just have to believe that you can do that.
– Tiffany

– Track Your Money for Awareness

Start tracking daily expenses to see where money is flowing. Tiffany shares that every time she's done this with people, they immediately start saving money because awareness reveals spending patterns they didn't realize existed.

You will automatically start saving money because it's awareness. You don't realize how much you're spending on these little $5 here, $10 here until you become aware.
– Tiffany

– Budgeting: Foundation of Financial Success

Create a budget regardless of what you call it - cash flow statement, money management tool, or money manifestation tool. The function remains the same: knowing exactly how money flows in and out.

Having a budget is so freeing. It's not restrictive at all. This is a tool to give you freedom.
– Tiffany

Tiffany shares how knowing her budget of $50 a day empowered her to quit corporate and pursue her own path, demonstrating the power of financial awareness.

– Foolproof Your Finances

Implement strategies based on self-awareness: use online savings accounts with delayed access, remove credit cards from wallet, or delete saved payment methods on your phone to create friction between impulse and action.

You have to know yourself and then figure out ways to foolproof whatever goal you're trying to do.
– Tiffany

– Mindset and Community Responsibility

Tiffany addresses the spending habits within communities and emphasizes taking collective responsibility. She stresses that positive self-talk is essential - believing you can save or achieve financial goals is half the battle.

If you tell yourself you can't do it before you get out the gate, then guess what? You're not going to do it. But if you say 'I can,' guess what? You will.
– Tiffany

– Know Yourself for Lasting Change

Tiffany urges listeners to start learning themselves: what makes you tick, what makes you fall off track, what self-talk you engage in daily, and what beliefs were shaped by how you were raised.

It all starts with knowing yourself. The more you learn about yourself, the better of a person you can be and the better effect you can have in this world.
– Tiffany

Resources

Savings Challenge with Copper Vibrationstool
YNAB Budgeting Tooltool
Budgeting Basics Guidearticle
Ally Online Savingstool
Support the Podcast

Topics

personal financebudgetingsaving moneyfinancial mindsetmoney trackingself-awarenessfinancial habitscommunity wealthfinancial freedombehavioral finance